Today’s snapshot deals with the North Vancouver real estate market.

This snapshot reflects the periods from September 28 to October 27, 2011 and October 27 to November 27, 2011.

North Vancouver Total Listings

North Vancouver’s total listing count dropped from Sept/Oct’s 383 to Oct/Nov’s 354.

North Vancouver’s Sold Homes

The big change in the periods is the substantial decrease in the number of sales in the two periods. Sept/Oct totalled 92 whereas Oct/Nov dropped by almost half again down to 55 for the period.

Expired, Days on Market

• The Sept/Oct expired listing mandates recorded 17. This increased to 25 in the Oct/Nov period. An indicator that the market is not prepared to pay what some sellers are asking.
• During these same periods the number of days it took to sell a home increased from 30 in Sept/Oct to 35 in Oct/Nov. suggesting that buyers are taking longer to decide.

North Vancouver Homes Average and Median Prices

• In Sept/Oct North Vancouver home’s Average Ask price was $1,009,278. The Average Ask price jumped to Oct/Nov’s $1,166,945.
• The Median Ask price in Sept/Oct was $924,450. The Median Ask increased to Oct/Nov’s $1,022,000.
• The Average Sold price in the Sept/Oct was $990,026. In Oct/Nov there was an upward tick to $1,144,914.
• The Median Sold price in Sept/Oct was $913,500. The Median Sold also recorded a jump to $978,000 in Oct/Nov.

Thoughts

Average and median numbers aren’t everything but, one look at North Vancouver’s detached market suggests that this market is unsettled.

An indicator of that change resides in the volume of sales. Sales dropping by almost half might give you reason to be nervous if you were of the mind that impending doom is on the horizon. It could be viewed that way or, from this Vancouver Realtor’s perspective, it’s more the remembering that we are approaching the end of the year and as such, historical recordings would, like the first snow on Grouse Mountain, indicate that this unsettling is perhaps nothing more than a reflection of the market’s seasonal change.

Photo Credit: Matt Collinge

Halloween is around the corner. Expect to see some fireworks displays lighting up the sky as North Vancouver home sellers attempt to frighten away the evil spirits of Vancouver’s real estate market.

This North Vancouver detached home community snapshot period extends from August 24, 2011 to September 23, 2011 and September 24, to October 24, 2011.

Total Listings

On the horizon Total Listings sparkled as Aug/Sept’s 442 faded slightly to Sept/Oct’s 417.

Sales

Compared to other communities seen so far, the small drop in sales from Aug/Sept’s 79 to Sept/Oct’s 67 might be considered a pyrotechnical feat.

Expired, Days on Market

• Aug/Sept’s expired listing mandates glittered at 31. The number dissolved to 18 in Sept/Oct.
• Selling a home in North Vancouver took less time than a star burst as the number of days dropped from Aug/Sept’s 43 to Sept/Oct’s 28.

North Vancouver Detached Home Average and Median Prices

• Aug/Sept Average Ask price was $1,107,931. Sept/Oct’s display dampened by rain, didn’t fire as it dropped to Aug/Sept’s $1,012,307.
• The Median Ask price in Aug/Sept was $949,000. The Median Ask failed to ignite as it too dropped to $919,900 in Sept/Oct.
• The Average Sold price in the Aug/Sept was $1,077,913. Sept/Oct’s Average Sold price fizzled at $991,968.
• The Median Sold price in the Aug/Sept period was $936,000. Like the Average, the Median Sold price was a dud which failed to produce a display as it dropped to $895,000 in Sept/Oct.

Symphony of Fire

Vancouver used to call the annual summertime fireworks display the Benson and Hedges Symphony of Fire. There was just too much smoke emanating from that corporate relationship so it was renamed the Celebration of Light.

Assuming North Vancouver’s dropping prices are smoke, this North Vancouver snapshot might extend to suggest that there is a real estate market fire smoldering. As such, if the smolder becomes a blaze it remains to be seen if North Vancouverites will be celebrating its light.

Image Credit: hupaishi

According to Wikipedia, ‘Hakuna Matata’ means “there are no worries.”

While it might be too early to worry about when the first snow will fall on North Vancouver’s famous ski hill – Mount Seymour, the visual of your neighbour standing in their living room, boots buckled tight and skies strapped on while performing all the moves that accompany the Olympic giant slalom might however, cause you to worry.

Seeking relief from the across the street visual, you instead might choose to hear North Vancouver’s real estate market patrons singing ‘hakuna matata.’

This North Vancouver detached home community checkup period extends from July 24, 2011 to September 23, 2011.

Total Listings

Total Listings held fairly steady from Jul/Aug’s 413 units to Aug/Sept’s total of 409.

Sales

The volume of sold homes was also relatively respectable compared to other community checkups with Jul/Aug recording 66 solds and Aug/Sept showing up at 52.

Expired, Days on Market

• Jul/Aug’s total for expired listing mandates was 19. This saw an increase to 29 in Aug/Sept.
• The average number of days it took to sell a home in North Vancouver was also reasonable as it only increased by 4 days from Jul/Aug’s 40 to Aug/Sept’s 44.

North Vancouver Detached Home Average and Median Prices

• Jul/Aug Average Ask price was $1,036,233. Aug/Sept saw this increase to $1,129,451.
• The Median Ask price in Jul/Aug $917,900. The Median Ask also increased as it recorded a total of $949,450 in Aug/Sept.
• The Average Sold price in the Jul/Aug was $1,005,689. Average Sold prices increased to $1,094,928 in the Aug/Sept period.
• The Median Sold price recorded in Jul/Aug was $900,000. Along with the Average Sold price this also increased to $952,000 in Aug/Sept.

Circle of Life

One day your house values are up and another day they are down. A constant in virtually any market you choose to consider, market cycles, much like Disney’s “Circle of Life’ can make you sing ‘hakuna matata’ or scream in pain as you watch a neighbour perform their interpretation of the giant slalom.

*Courtesy Disney

Image Credit

This snapshot of North Vancouver’s detached home real estate market appears to match the topography of this vibrant north shore community.

During the two periods extending from October 26, 2010 to November 26, 2010 and November 26, 2010 to December 26, 2010 detached properties in the North Vancouver tallied these snapshot results.

Total Listings

Total Listings have reversed from the summer’s highs as they continue to drop from Oct/Nov’s 290 to Nov/Dec’s 260.

Sales

The volume of sold homes are in keeping with the Holiday season having dropped by more than half from Oct/Nov’s 71 to Nov/Dec’s 32.

Expired, Reductions, Increases, Days on Market

Lonsdale Quay – 1980

• Oct/Nov recorded 27 expired listing mandates and increased to 36 in Nov/Dec.
• In this snapshot there were 113 price reductions in Oct/Nov slowing to 96 in Nov/Dec.
• Notable, is that there were no price increases in either period.
• 55 days is how long it took to sell a North Vancouver home in Oct/Nov while in Nov/Dec this increased by one day to 56.

North Vancouver Detached Home Average and Median Prices

• Oct/Nov Average Ask price was $1,001,447. Nov/Dec saw this Average Ask price drop to $862,168.
• The Median Ask price in Oct/Nov $849,900 dropping to $799,400 Nov/Dec.
• The Average Sold price in the Oct/Nov was $970,323. Average Sold prices dropped to $834,539 Nov/Dec.
• The Median Sold price in Oct/Nov was $836,500 which also dropped to $799,500 in Nov/Dec.

Holiday Thoughts

At first blush North Vancouver’s detached homes appear to be on a slippery slope. Not known, is how slick the slope is as it is hidden within the traditional slow market accompanying the Christmas Holidays.

Day four in November’s month end peek at detached real estate in various Vancouver communities.

In this installment of the Vancouver BC community series we take a snapshot of the North Vancouver real estate market.

During the two periods September 24/2010 to October 23/2010 and October 24/2010 to November 23/2010, detached properties in the North Vancouver tallied these results.

Listings

Total Listings showed a slight decrease from Sept/Oct’s 418 to Oct/Nov’s 377.

Sales

Sales decreased from Sept/Oct’s 88 to 51 in Oct/Nov.

Expired, Reductions, Increases, Days on Market

Plowing Snow at 1st and Lonsdale 1916

• Sept/Oct recorded 32 expired listing mandates. This dropped to 28 in Oct/Nov.
• Price reductions in Sept/Oct were 162 and dropped to 147 in Oct/Nov.
• Notable, is that there were no price increases in either period.
• It took 52 days to sell a home in Sept/Oct. The number of days dropped to 49 Oct/Nov.

Average and Median Prices

• Sept/Oct Average Ask price was $1,033,535. In Oct/Nov the Average Asking price dropped to $922,083.
• The Median Ask price in Sept/Oct was $883,500 dropping to $849,900 in Oct/Nov.
• The Average Sold price in the Sept/Oct was $1,006,863. Average Sold prices dropped to $895,127 in Oct/Nov.
• The Median Sold price in Sept/Oct was $872,500. In concert with the average price drop Median sold price dropped to $835,000 in Oct/Nov.

Thoughts

North Vancouver detached homes appear to be on a slow but slippery slope. With the historically low period of the market year approaching this market will probably need to plow more snow before an upward swing is to be seen.

In this the fourth installment of the Vancouver BC community series we take a snapshot of the North Vancouver real estate market.

During the two periods Aug 25/10 to Sept 25/10 and Sept 25/10 to Oct 25/10, detached properties in the North Vancouver tallied these results.

Listings

Total Listings showed a slight decrease from Aug/Sept’s 457 to Sept/Oct’s 451.

Sales

Sales increased by one from Aug/Sept 56 to 57 in Sept/Oct.

Expired, Reductions, Increases, Days on Market

Lonsdale Subway – 1928

• Aug/Sept recorded 37 expired listing mandates. This reduced to 30 in Sept/Oct.
• Price reductions in Aug/Sept were 153 but recorded a slight drop to 144 in Sept/Oct.
• Notably, there were no price increases in either period.
• It took 49 days to sell a home in Sept/Oct down from Aug/Sept’s 52.

Average and Median Prices

• Aug/Sept Average Ask price was $938,810. In Sept/Oct the Average Asking price increased in to $1,084,529.
• The Median Ask price in Aug/Sept was $859,000 increasing to $8879,000 in Sept/Oct.
• The Average Sold price in the Aug/Sept was $914,375. Sold prices shot up to $1,055,966 in Sept/Oct.
• The Median Sold price in Aug/Sept was $845,000. Median prices also climbed in Sept/Oct to $877,500.

Thoughts

While the overall market appears to continue a tempered slowing the latter period has had some surprises. Acknowledging that the sample size is small, it remains interesting that for the first time in the past months sales climbed (if only by one) while at the same time, average prices increased, price reductions decreased, price increases were nil and the time it took to sell a North Vancouver home was reduced.

A betting man would probably say that based on this information this market has leveled – at least for now.

Lonsdale Subway: 1928-1929

With the train/car bridge at Second Narrows complete, it became a challenge to connect the railway that came over the bridge with the PGE tracks based in Lower Lonsdale. Constructing such a line along the waterfront posed major problems in the Lonsdale area. Trains would have to cross the streetcar lines near the ferry wharf and cut through Burrard Dry Dock’s property. To solve the problem, the Lonsdale Subway was constructed. This 23-foot-high tunnel has entrances at the foot of Chesterfield (now hidden from view under new office buildings) and St. Georges. The subway effectively connected the Terminal Railway with the PGE line while avoiding disruption to the Lonsdale area.

Courtesy City of North Vancouver

This is the fourth of seven installments where we visit seven communities that form part of the Vancouver Real Estate market. The seven communities that are reviewed include Coquitlam, Burnaby, Vancouver East, Vancouver West, North Vancouver, West Vancouver and Richmond.

Today, we look at the North Vancouver detached market.

During the two periods July 26, 2010 to August 25, 2010 and August 26, 2010 to September 25, 2010, detached properties in the North Vancouver community had these results.

Listings

Total Listings decreased from Jul/Aug’s 481 to Aug/Sept’s 456.

Sales

Sales hit a bump on its way down from Jul/Aug’s 62 to 31 in Aug/Sept.

Expired, Reductions, Increases, Days on Market

Capilano Suspension Bridge – 1914

• Jul/Aug’s had 31 listing mandates expire increasing to 37 in Aug/Sept.
• Price reductions in Jul/Aug were 165. They decreased to 152 in Aug/Sept.
• There were 2 price increases in Jul/Aug and 1 in Aug/Sept.
• It took 56 days to sell a home in Jul/Aug. DOM decreased to 44 in Aug/Sept.

Average and Median Prices

• Jul/Aug’s Average Ask price was $938,651. The Average Asking price increased in Aug/Sept to $958,367.
• The Median Ask price in Jul/Aug was $891,950. This increased to $899,900 in Aug/Sept.
• The Average Sold price in the Jul/Aug’s was $914,572. In Aug/Sept this increased to $939,322.
• The Median Sold price in Jul/Aug’s was $875,000. In Aug/Sept the Median Sold increased to $895,000.

In this 7 day series we will visit seven communities that comprise the Vancouver Real Estate market. We will visit the markets of Coquitlam, Burnaby, Vancouver East, Vancouver West, North Vancouver, West Vancouver and North Vancouver.

On day 7 we looked at Coquitlam, on day 6 we visited Burnaby, and on day 5 we visited Richmond. Today, the 4th day of the August count down, we will visit the North Vancouver detached market.

During the two periods June 25, 2010 to July 24, 2010 and July 25, 2010 to August 24, 2010, detached properties in the North Vancouver neighbourhoods had the following results.

Listings

Total Listings decreased from June/July’s 462 to July/Aug’s 432.

Sales

Sales had a bump on its way down from June/July’s 71 to 39 in July/Aug.

Expired, Reductions, Increases, Days on Market

North Vancouver Ferry – 1904: Photo Credit

• June/July had 31 listing mandates expire increasing to 33 in July/Aug.
• Price reductions in June/July were 170 increasing to 157 in July/Aug.
• There were 4 price increases in June/July and 3 in July/August.
• The 36 days that it took to sell a house in July/August must now seem like a dream compared to June/July’s 63.

Average and Median Prices

• June/July’s Average Ask price was $958,381. The average decreased a little in July/Aug to $952,164.
• The Median Ask price in June/July was $869,000 and increased to $898,000 in July/Aug.
• The Average Sold price in the June/July was $934,454. In July/Aug this dropped to $931,323.
• The Median Sold price in June/July was $850,000. In July/Aug the median sold price increased to $882,000.

Looking Ahead

North Vancouver’s sellers are waiting 63 days to sell a home which is not something we have seen for a very long time. It would seem that the dark cloud of few sales has also extended its cover to the north shore suggesting that this may cause North Vancouver sellers to wait even longer.

Tomorrow we’ll skoot along the upper levels highway, cross the Capilano river and visit West Vancouver.

Three days remain in July. In this the third installment of six posts we continue to seek a sense of the market segments in Vancouver’s real estate prior to the month end accounting.

Each day the series will travel around Vancouver to explore all areas of North Vancouver -North,South,and East, North Vancouver, North Vancouver, West Vancouver, Vancouver East and Vancouver West. Our exploration will center on detached homes and their market performance during the same 30 day periods – May 25 to June 25 and June 25 to July 25.

Today we visit North Vancouver.

In the two periods May 25, 2010 to June 25, 2010 and June 25, 2010 to July 25, 2010, detached properties in the North Vancouver neighbourhoods had the following results.

Listings

Total Listings decreased units from May/June’s 547 to June/July’s 501.

Sales

Sales decreased from May/June’s 101 to 48 in June/July.

Expired, Reductions, Increases, Days on Market

• May/June had 24 listing mandates expired increasing to 31 in June/July.
• Price reductions in May/June were 215 decreasing to 196 in June/July.
• There were 3 price increases in May/June and 4 in June/July.
• It took an average of 34 days to sell a home in May/June. This remained steady in June/July.

Average and Median Prices

• May/June’s Average Ask price was $970,054 decreasing to $879,141 in June/July.
• The Median Ask price in May/June was $849,900 decreased to $829,450 in June/July.
• The Average Sold price in the May/June was $942,804. In June/July this dropped to $859,953.
• The Median Sold price in May/June was $850,000. In June/July this dropped to $815,000.

Looking Ahead

Day 4 we will leave North Vancouver and make our way across the Capilano River to West Vancouver. Expect a change!

Photo Credit

As we approach the month end it is always fun to see how the different areas are performing. Yesterday we had a peek at Vancouver West. Today it’s North Vancouver.

If you have ever had the pleasure of riding and ebbing tide all the way from Deep Cove to the Capilano River you will notice a lot of changes as the current swirls around the deep hidden rocks.

Through it all North Vancouver passes on your right. Outstanding is how Lonsdale drops from the mountain to the sea. In this months Snapshot, it would seem that the North Vancouver detached market matches that incline.

North Vancouver Detached

For the period covering April 26,2010 to June 25,2010 North Vancouver Detached detached homes experienced the following market activity.

Listings

Listings dipped from 583 in April/May to 562 in May/June.

Sales

The sales dropped from April/May’s 95 units to May/June’s 66 units.

Expired, Reductions, Increases, Days on Market

• April/May saw 17 listing mandates expire. That increased to 25 in May/June.
• Price reductions as a factor of total listings was substantial. in April/May were 203 and increased to 214 in May/June.
• There were 5 price increases in April/May matched by 5 in May/June.
• It took 29 days in April/May to sell a home. It took longer to sell a home in May/June as the days on market stretched to 33.

Lynn Valley, 1905
Courtesy North Vancouver Museum and Archives.

Average and Median List Price/Sold Price

Average List price

• April/May – $976,967
• May/June – $947,903

Median List price

• April/May – $899,000
• May/June – $849,950

Average Sold price

• April/May – $959,313
• May/June – $921,695

North Vancouver ferry terminal, foot of Lonsdale – 1906 CVA 677-700

Median Sold price

• April/May – $880,000
• May/June – $850,000

Thoughts

North Vancouver’s detached is on a gentle but continuing slide.

Arithmetic – listings down + sales down + increased expired listings + longer time to sell + lots of price reductions = average and median prices dropping.

We won’t reach slack tide for some time to come. My guess is we can continue to expect this North Vancouver market flow for a number of months ahead.